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Bears

$3.8 million project Uptown

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http://www.commercialappeal.com/mca/real_e...4837116,00.html

With the Pyramid being redeveloped, it looks like many surface lots will built on. I remember a story about how the Pyramid Arena didn't encourage development because landowners found out it was more lucrative to run a parking lot instead of a resturant. When the mega store opens, lots of pedestrian activity could be expected for this area.

Isn't the Vue on Main apartments dead? Does Amos Maki know something we don't or did he just not get the memo? Or maybe he's just being more optomistic than we and the developers are!!!

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http://www.commercialappeal.com/mca/real_e...4837116,00.html

With the Pyramid being redeveloped, it looks like many surface lots will built on. I remember a story about how the Pyramid Arena didn't encourage development because landowners found out it was more lucrative to run a parking lot instead of a resturant. When the mega store opens, lots of pedestrian activity could be expected for this area.

Isn't the Vue on Main apartments dead? Does Amos Maki know something we don't or did he just not get the memo? Or maybe he's just being more optomistic than we and the developers are!!!

I haven't heard an official death declaration yet. I think right now it's in critical condition. I remember reading somewhere that the CCC might open up the land to bidding again if the highrise doesn't come about. Can't remember where I read that. CA, bizjournals, daily news, somewhere. I was glad to hear that. I don't want just a garage there (which was going to be the previous alternative, if I remember correctly).

edit: got it from bizjournals (http://memphis.bizjournals.com/memphis/stories/2006/07/10/daily16.html)

exceprt:

Sanford addressed the ongoing uncertainty of The Vue project at the corner of Main and Gayoso. Following a precedent setting initial extension for the proposed 28-story, 284-unit apartment building, the CCRFC has since granted additional extensions to the PILOT.

"We are hopeful that it is still a project," he said. "If it is not, then we will seek to rebid the project."

The Downtown Parking Authority, which owns the land at Main and Gayoso, will meet prior to the next CCRFC meeting that follows the current PILOT extension for The Vue project.

"Through the acquisition of that land, we have quite a bit of real money in this," Sanford said.

Should the commission rebid the project, Sanford said he thinks there would be quite a bit of interest in it.

Board member Lee Askew agreed, saying that since the initial bid, a number of other projects have come to fruition in the area.

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I think the Union Planters Building apartment project may have been the last nail in The Vue's coffin. If Nashoba Group was having trouble securing financing before, this additional competition only made the market look less attractive.

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I think the concept was rather poor for the Vue...while it is nice to have a blend of affordable and luxury accomodations, I'm sure anyone interested in a luxury unit at the Vue would have seen it as living in government housing. I hope that the site gets rebid to something a bit taller (upper 30s would satisfy me) that is half hotel/half condo and appeals more to what is going in the area. I think the Vue could work more in the northern edge of Uptown.

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I think the concept was rather poor for the Vue...while it is nice to have a blend of affordable and luxury accomodations, I'm sure anyone interested in a luxury unit at the Vue would have seen it as living in government housing. I hope that the site gets rebid to something a bit taller (upper 30s would satisfy me) that is half hotel/half condo and appeals more to what is going in the area. I think the Vue could work more in the northern edge of Uptown.

Something residential is perfect for that spot in downtown. As long as the site isn't just a parking garage. According to Emporis, the Vue (formerly Gayoso Place) beat out another proposal for the site that called for a 10-story office building. Maybe a 4-sided mixed use project (ground floor retail, parking garage, office, residential) could land Memphis a new tallest proposal. I can't think of a better location.

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Something residential is perfect for that spot in downtown. As long as the site isn't just a parking garage. According to Emporis, the Vue (formerly Gayoso Place) beat out another proposal for the site that called for a 10-story office building. Maybe a 4-sided mixed use project (ground floor retail, parking garage, office, residential) could land Memphis a new tallest proposal. I can't think of a better location.

agreed...i just think the New Main area is becoming too high end for something like the Vue...it needed to be more upscale to fit in.

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agreed...i just think the New Main area is becoming too high end for something like the Vue...it needed to be more upscale to fit in.

You're right. Hopefully something will be built in it's place, because that location is an ideal spot for a new tower. It would add depth to the skyline.

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